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Schlumberger (SLB) Stock Declines While Market Improves: Some Information for Investors
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The most recent trading session ended with Schlumberger (SLB - Free Report) standing at $48.45, reflecting a -0.23% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.57%. Elsewhere, the Dow gained 0.46%, while the tech-heavy Nasdaq added 0.75%.
Shares of the world's largest oilfield services company witnessed a loss of 0.98% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 1.25% and the S&P 500's gain of 3.4%.
Investors will be eagerly watching for the performance of Schlumberger in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 19, 2024. The company's earnings per share (EPS) are projected to be $0.84, reflecting a 18.31% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $8.99 billion, indicating a 14.14% upward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Schlumberger. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.78% lower. At present, Schlumberger boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Schlumberger is currently being traded at a Forward P/E ratio of 13.51. This expresses no noticeable deviation compared to the average Forward P/E of 13.51 of its industry.
We can additionally observe that SLB currently boasts a PEG ratio of 0.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Oil and Gas - Field Services industry held an average PEG ratio of 0.7.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 201, placing it within the bottom 21% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Schlumberger (SLB) Stock Declines While Market Improves: Some Information for Investors
The most recent trading session ended with Schlumberger (SLB - Free Report) standing at $48.45, reflecting a -0.23% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.57%. Elsewhere, the Dow gained 0.46%, while the tech-heavy Nasdaq added 0.75%.
Shares of the world's largest oilfield services company witnessed a loss of 0.98% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 1.25% and the S&P 500's gain of 3.4%.
Investors will be eagerly watching for the performance of Schlumberger in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 19, 2024. The company's earnings per share (EPS) are projected to be $0.84, reflecting a 18.31% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $8.99 billion, indicating a 14.14% upward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Schlumberger. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.78% lower. At present, Schlumberger boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Schlumberger is currently being traded at a Forward P/E ratio of 13.51. This expresses no noticeable deviation compared to the average Forward P/E of 13.51 of its industry.
We can additionally observe that SLB currently boasts a PEG ratio of 0.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Oil and Gas - Field Services industry held an average PEG ratio of 0.7.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 201, placing it within the bottom 21% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.